California Gov. Jerry Brown has signed legislation to require insurance companies to let homeowners know whether their policies are sufficient to rebuild or replace their homes after a disaster.
Assembly Bill 1799, by Assemblyman Marc Levine, D-Marin County, addresses consumer protection and underinsurance issues uncovered by the devastating 2017 wildfire season.
AB 1799 standardizes what information about policies insurance companies are required to provide to fire victims after a loss.
The bill requires the insurer to provide the policyholder with all the information they need to understand the coverage they paid for, including the full insurance policy, any endorsements to the policy and the policy declarations page.
Was this article valuable?
Here are more articles you may enjoy.
Convicted Insurance Mogul Lindberg Should Pay $1.6B Restitution to Companies 
Electric Bills in Coal Country West Virginia Now Top Mortgage Payments 
Mustard Maker Caught Pumping Pollutants Into River for Years and Lying About It 
Viewpoint: Why Brokers Have Little to Fear and Everything to Gain From AI From This Issue
